Mortgage Transfer Help Needed

oizafed

I am writing for some advice please.
I currently have a two year tracker mortgage from Nationwide. This is due
to expire at the end of September and I my rate is therefore going to change
back to the basic rate.
I have been offered a number of alternatives, all of which will cost me £349
to change over to.
These consists of fixed rates, and new trackers, varying from 2, 3 and 5
years.
Has anyone got any advice on which I should take or whether I should look to
remortgage with someone else? Thank you

lisyloo

You could look elsewhere to get a better deal however

1) I would say that nationwide are offering pretty good deals at the moment from what I've seen.

2) They are also a good lender because they let you have the deals avaialble to new customers which many companies don't.

3) I think you can overpay on their mortgages, so that is a good feature to have.

4) It's a lot less hassle than re-mortgaging to another company (no legale work etc)

5) You have left it a bit late to re-mortgage as it takes 6 - 8 weeks so if you go elsewhere then you'll have to pay BMR for a while (although probably only a month or 2).

All in all, I would say that sticking with Nationwide looks a pretty good option.

Personally I would not go for a fixed rate at the moment as rates have almost peaked so little benefit.
Personally I would go for the 2 year tracker as it's probably cheaper but it does mean once again remortgaging after the 2 years so a little bit more work.